Schneider Electric, Charge&Go ink pact
The aim is to develop EV charging facility in the UAE.
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Vietnam’s VNG files for US IPO
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e& capital invests in Maxbyte
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Ryanair quarterly profit dives 93%
The carrier flies mostly throughout Europe.
Sukoon Insurance sets up OIWSS
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SAB sees $26m negotiated deal
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Twitter Q2 revenue at $1.18bn
Twitter reported disappointing results on Friday, a miss that the social network attributed to "headwinds" including the uncertainty related to...
- Twitter missed expectations with revenue of $1.18 billion, due to "advertising industry headwinds"
- Uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk is also touted as a reason for the results
Business
Qatar Airways orders 25 aircraft
The airline ordered 25 Boeing MAX 10 jets worth $3.3bn.
- Boeing has triumphed over its European rival Airbus in the traditional Farnborough battle for orders this year.
- European rival Airbus cancelled a multi-billion-dollar order of 50 single-aisle A321neo jets from Qatar Airways.
Business
Arada H1 property sales up
The developer sold homes valued at $405m in Sharjah.
- The first half results saw completion of the company's first public financing deal, a $350 million sukuk issuance.
- The results come against Sharjah's booming property market, which saw a 65 percent increase in the total value of property sold in 2021.
Business
American Airlines registers Q2 profit
Profits were $476 million compared with just $19 million in the year-ago period.
- US carrier said its first profitable quarter, since the start of the pandemic, was due to operations
- American Airlines expects revenues of 10-12% above the 2019 level in the third quarter of 2022
Business
Amazon expanding health care
It will acquire US health care provider One Medical for $3.9 bn.
- The massive firm has steadily gone far beyond e-commerce, and earlier this year said its telemedicine service was expanding nationwide in the United States.
- One Medical, which has a network of primary care practices and telemedicine services, has grown to over 750,000 members.
Business
Zain Group Q2 net profit $165m
The Group will pay a half-year dividend of 10 fils per share.
- Data Revenue grew 3 percent to represent 40 percent of Group Revenue for H1. Kuwait, KSA and Sudan record double-digit growth in revenue and net profit.
- The Group said it recorded 21 percent revenue growth in Enterprise business, as ZainTech enters many strategic partnerships.
Business
Delta orders Airbus jets
The airline ordered a dozen single-aisle passenger jets worth $1.1 bn.
- Delta grabbed the headlines on the first day of Farnborough show on Monday with a $13.5-billion order for 100 medium-haul MAX jets built by Airbus rival Boeing.
- The Airbus announcement brings Delta's total firm A220 order to 107 of the aircraft.
Business
SAMI, Lockheed Martin sign pact
A center for manufacturing composite materials will be set up in Riyadh.
- The center will be established with support from the General Authority for Military Industries, in an effort to enhance aircraft manufacturing capabilities in the kingdom.
- SAMI Composite Materials Limited and Lockheed Martin will evaluate and develop the center in several phases, in addition to developing national cadres.
Business
DFM welcomes listing of Union Coop
Dubai Financial Market (DFM) Monday welcomed the listing of Union Coop’s shares, becoming the first cooperative society in the UAE...
- Union Coop is the first cooperative society in the UAE to list its shares and Dubai Financial Market welcomes the step
- The listing supports the efforts of market participants to further develop Dubai's financial markets
Business
Healthcare giant Haleon worth $37bn
The company began trading in London on Monday.
- The new company -- which owns brands including Sensodyne toothpaste, pain relief drug Panadol and cold treatment Theraflu -- was worth lower than an expected £40 billion.
- GSK's share price tumbled 20 percent in early London trading following the demerger.
Schneider Electric, Charge&Go ink pact
The aim is to develop EV charging facility in the UAE.
Business
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Vietnam’s VNG files for US IPO
Business
e& capital invests in Maxbyte
Business
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Sukoon Insurance sets up OIWSS
Business
SAB sees $26m negotiated deal
Business
Renault shares fall as sales disappoint
The company's strategy is to sell fewer cars but at higher prices.
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Business
Turkey’s Atis Yapi opens Dubai office
This is the real estate giant's first office in the UAE.
- This follows signing of agreements and MoUs worth $50.7 billion between UAE President Sheikh Mohammed bin Zayed Al Nahyan and his Turkish counterpart Recep Tayyip Erdoğan in July.
- Atış Yapı said it is set to develop a modern and competitive portfolio of residential and commercial projects in the UAE.
Business
FAB net profit up $3.4bn in 9M 2023
The bank reported total revenue of $5.6 billion.
- The bank reported total revenue of $5.6 billion, marking a 38% year-on-year growth
- The return on tangible equity improved to 18.3%, with Group CET1 reaching 14.2% as of September 2023
Business
Presight AI, TOTM form joint venture
The JV will develop and deploy their combined proprietary technologies.
- The joint venture agreement will establish an entity that will leverage Presight’s Big Data AI and Data Analytics capabilities.
- This will allow governments and enterprises to transform mission-critical infrastructure with intelligent new solutions that are data-driven.